New Delhi: Packaging solution provider Cosmo Films on Friday reported an over four-fold increase in consolidated net profit at Rs 18.42 crore for the fiscal first quarter that ended on June 30, on the back of high margins and improved efficiency.
The company had registered a net profit of Rs 3.90 crore for the corresponding period a year ago, Cosmo Films said in a filing to the BSE.
However, the company's total income from operations was down 7.78 per cent during the quarter under review at Rs 408.94 crore as against Rs 443.45 crore in the year-ago period.
"We attribute this quarter's performance to our constant focus on high margin specialty products, overall improvement in biaxially oriented polypropylene (BOPP) films demand and our efforts to rationalise costs and improve efficiencies. We anticipate continued strong demand for BOPP films in coming years and as part of this belief, we intend to expand our BOPP production capacity over the next few years to support company's growth plans," Cosmo Films CEO Pankaj Poddar said.
Shares in Cosmo Films, on Friday, ended over 3 per cent higher at Rs 164 apiece on the BSE.
The company had registered a net profit of Rs 3.90 crore for the corresponding period a year ago, Cosmo Films said in a filing to the BSE.
However, the company's total income from operations was down 7.78 per cent during the quarter under review at Rs 408.94 crore as against Rs 443.45 crore in the year-ago period.
"We attribute this quarter's performance to our constant focus on high margin specialty products, overall improvement in biaxially oriented polypropylene (BOPP) films demand and our efforts to rationalise costs and improve efficiencies. We anticipate continued strong demand for BOPP films in coming years and as part of this belief, we intend to expand our BOPP production capacity over the next few years to support company's growth plans," Cosmo Films CEO Pankaj Poddar said.
Shares in Cosmo Films, on Friday, ended over 3 per cent higher at Rs 164 apiece on the BSE.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
